Home buyers flock to view Rightmove

By Leah Simpson
Posted: 2010/05/06

PROPERTY website Rightmove is on track to hit improved annual profit targets after a record number of potential home-buyers flocked to its website in March.

The group said it was confident of achieving upgraded profit expectations after enjoying its busiest month, while site traffic set a new record on April 6 - the first working day after Easter.

It added that its number of advertisers had risen 1 per cent since December as growth in the number of estate agents and overseas advertisers offset a decline in the number of new homes being advertised.

Price rises and the sale of additional products meant average revenues per advertiser rose by fifth in the first four months of the year against the 2009 average.

Meanwhile, property consultants Savills said its UK residential and Asia Pacific businesses had traded well in the first four months of the year and the UK commercial market had continued to improve, although there had been signs of slowdown in the UK ahead of the election. Uncertainty also hit the Chinese market, where the government may act to stem rises in residential values.